Recommended by G.A.T.A.                                                       Issue 45 | May 13, 2015

   

From the Desk of Worldwide Precious Metals

The Week in Review May 4th-8th

Written by, Precious Metals International Ltd., Bullion Wholesaler

 

  1. Volatility continued this week as speculation over the upcoming actions of the U.S. Federal Reserve began to run rampant again ahead of the April Non-Farm Payrolls report.
     
  2. The number of Americans filing initial claims for state unemployment assistance rose by just 3,000 claims last week to a "seasonally adjusted" level of 265,000 claims, remaining near a 15-year low. The previous week's data remained unrevised. Last week's unemployment data will not have an effect on Friday's Non-Farm Payrolls report for April, as the data fell outside of the survey's date range.
     
  3. Friday's Non-Farm Payrolls report for April showed the addition of 223,000 jobs to the U.S. economy. The number was in line with economists' expectations of 224,000 jobs, but the data for March was revised downward to show only 85,000 jobs. The report also showed that average hourly earnings crept up just 0.1 percent, which led many to surmise that the Fed would not move to raise rates in June since wage inflation is nearly non-existent. Strategist Jim Paulsen said on Friday on CNBC's "Squawk Box" that "If you put in the revisions, it's a fairly back-to back weak number again on average - below the 200,000 level with the negative revisions [to March]." Analysts speculate now that the Fed will wait until September before it considers raising rates...........READ MORE IN THE REPORT

 

Silver no longer the poor man's gold

 

Silver is a key component in crystalline silicon photovoltaic (PV) cells. According to IHS, demand for solar power is set to increase by 30pc to 57 gigawatts of electricity in 2015. China alone is expected to install something in the region of 17 gigawatts of solar capacity by the end of the year, creating huge potential demand for silver. 

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"This (silver market) is about as coiled a spring as you can get and it should be sufficient to see a $20 print just on short covering alone.  And that's not even accounting  for fresh bid interest that would come in when we see markets move higher.  Both gold and silver are set up for a very large move higher"~Andrew Maguire..Read more Silver & Gold in The Report 

     

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